Keyvan Mohajer Sells 137,290 Shares of SoundHound AI (NASDAQ:SOUN) Stock

by · The Markets Daily

SoundHound AI, Inc. (NASDAQ:SOUN – Get Free Report) CEO Keyvan Mohajer sold 137,290 shares of SoundHound AI stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $6.33, for a total value of $869,045.70. Following the completion of the transaction, the chief executive officer owned 3,684,947 shares of the company’s stock, valued at $23,325,714.51. The trade was a 3.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SoundHound AI Price Performance

Shares of SOUN stock traded up $0.07 during trading hours on Thursday, reaching $6.00. 16,598,502 shares of the stock were exchanged, compared to its average volume of 28,301,928. The business’s fifty day moving average is $6.70 and its two-hundred day moving average is $7.24. The firm has a market capitalization of $2.66 billion, a P/E ratio of -15.79 and a beta of 2.66. SoundHound AI, Inc. has a 12-month low of $5.65 and a 12-month high of $22.17.

SoundHound AI (NASDAQ:SOUN – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. SoundHound AI had a negative net margin of 67.45% and a negative return on equity of 30.22%. The company had revenue of $61.90 million during the quarter, compared to the consensus estimate of $52.38 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The firm’s quarterly revenue was up 45.0% on a year-over-year basis. As a group, equities research analysts predict that SoundHound AI, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded SoundHound AI from a “strong sell” rating to a “sell” rating in a research note on Sunday. Weiss Ratings restated a “sell (e+)” rating on shares of SoundHound AI in a research note on Friday, September 11th. DA Davidson dropped their price target on shares of SoundHound AI from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Piper Sandler cut their price objective on shares of SoundHound AI from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.00.

Check Out Our Latest Stock Analysis on SOUN

SoundHound AI News Summary

Here are the key news stories impacting SoundHound AI this week:

  • Positive Sentiment: Analysts cited by American Banking News assign SoundHound an average price target of $13.00, substantially above recent trading levels. This suggests potential upside if the company delivers on its growth plans. SoundHound AI Receives $13.00 Average Price Target from Analysts
  • Positive Sentiment: SoundHound’s Asia business has extended its deal momentum to five consecutive quarters, with additional wins in China and India and continued expansion of its OASYS automotive platform. The developments support the company’s international growth and automotive AI opportunity. SoundHound Asia Growth Extends to 5 Quarters
  • Neutral Sentiment: A comparison with NVIDIA highlights SoundHound’s rapid growth and narrowing losses, but also its much smaller scale, narrower voice-AI focus and lack of profitability. Investors may view the company as a higher-risk growth alternative within the AI sector. SoundHound vs. NVIDIA After Earnings
  • Negative Sentiment: CEO Keyvan Mohajer, COO Michael Zagorsek, SVP Majid Emami and insider James Hom collectively sold about 285,863 shares at an average price of $6.33. The filings state the sales were made to cover tax withholding tied to vested equity awards, which reduces their bearish significance, although the volume may still weigh on sentiment. SoundHound Insider Sale Filing
  • Negative Sentiment: SoundHound has recently declined alongside other speculative software names, including UiPath and C3.ai, despite broader market resilience. The sector-wide selling reflects investor caution toward unprofitable, high-volatility AI stocks and remains a headwind for SOUN. SoundHound AI Drops as Speculative Software Selling Intensifies

Hedge Funds Weigh In On SoundHound AI

Several hedge funds have recently made changes to their positions in SOUN. Hollencrest Capital Management increased its position in SoundHound AI by 197.5% during the first quarter. Hollencrest Capital Management now owns 3,615 shares of the company’s stock worth $25,000 after buying an additional 2,400 shares during the period. SHP Wealth Management acquired a new position in shares of SoundHound AI in the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. increased its holdings in shares of SoundHound AI by 5,164.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 4,791 shares of the company’s stock valued at $48,000 after acquiring an additional 4,700 shares during the period. Clarus Group Inc. purchased a new stake in SoundHound AI in the 1st quarter valued at $69,000. Finally, 180 Wealth Advisors LLC purchased a new stake in SoundHound AI in the 1st quarter valued at $69,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

SoundHound AI Company Profile

(Get Free Report)

SoundHound AI, Inc develops conversational artificial intelligence and voice-enabled technologies. Its platform is designed to let users interact with devices, applications and services through natural-language speech, supporting functions such as information retrieval, question answering and task completion.

The company’s offerings include the Houndify conversational AI platform, which businesses can use to build branded voice assistants, as well as SoundHound Chat AI, an in-car and consumer-oriented voice assistant that combines conversational capabilities with access to information and services.

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